A Federal High Court sitting in Lagos yesterday held
The companies urged the court to hold that having made a “full and final” payment of N3.5 billion, as agreed atBut the bank insisted that in paying the N3.5 billion, the firms did not comply with the terms of agreement. The judge said Ecobank did not give any update about the actual time limit for the repayment of the loan.
However, in a swift reaction, Ecobank through a firm, Specialised Resolution Company, which took over the disputed Honeywell loans, strongly disagreed with the decision of the court.
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